Need help in monetizing my website (28,000 members)

by pse
24 replies
Hello,

I'm a software developer and for the last few years, I've been running a fantasy stock website for Pakistan (while I live in North America). I have about 28,000 registered users (and 9,000 Facebook likes). All this happened organically without me spending a dollar on promoting my website. This site is used by some of the business schools in that country as a course supplement.

At the time of sign-up, I ask 3 questions:

1. Are you Interested in Stock Trading. 16,800 users said yes.
2. Are you Interested in Insurance ? 12,400 said yes
3. Are you Interested in Immigration ? 11,800 said yes

These are some statistics:
80% Male
65% Age 20 to 30
25% Age 30 to 40

Here is a screenshot of the Google Analytics for the last 6 months or so:
https://www.dropbox.com/s/d4gass6ro2...49.13.png?dl=0

I have also setup a Google Adsense widget on the website which is doing fine and I'm not interested in lots of traffic and useless clicks.

What I'm interested in is in creating partnerships with stock brokers, insurance agents, and immigration consultants and refer them leads and make money doing so. Not sure how I am going to do that!

Last week (just to see if I can do some email campaigns), I created an email campaign 2 days back to send a 'We miss you' type of email to those users who signed-up this year but didn't sign-in for the last 3 months. So far, 20% opened those emails and 5% clicked on a link that would take them back to my website. I don't know how good or bad are these numbers. Any feedback would be appreciated!
#members #monetizing #website
  • Profile picture of the author DIABL0
    Pakistan...why?

    Average income is like $1500 per year.

    Who is going to want to buy those leads?
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    • Profile picture of the author pse
      I was based in Pakistan when I started this as a hobby and it grew this big.

      And I think the $1,500/year is not a good measure for a country of 200,000 population with 70% living in the villages. The people who sign up on my website are between $5,000 to $25,000/year income range.

      Originally Posted by DIABL0 View Post

      Pakistan...why?

      Average income is like $1500 per year.

      Who is going to want to buy those leads?
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      • Profile picture of the author aizaku
        Originally Posted by pse View Post

        I was based in Pakistan when I started this as a hobby and it grew this big.

        And I think the $1,500/year is not a good measure for a country of 200,000 population with 70% living in the villages. The people who sign up on my website are between $5,000 to $25,000/year income range.
        I'd start by....


        testing different types of banner ads on your site to see which ones convert best


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    • Profile picture of the author Project Sniper
      Originally Posted by DIABL0 View Post

      Pakistan...why?

      Average income is like $1500 per year.

      Who is going to want to buy those leads?
      typical American...uninformed and uneducated...you make $1500 a year
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      • Profile picture of the author pse
        It's not his fault. Wikipedia tells him that per capita is $1,500/year which is technically correct. But the ground reality is that millions of educated and people who are settled in big cities make a lot than that.

        Originally Posted by Project Sniper View Post

        typical American...uninformed and uneducated...you make $1500 a year
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      • Profile picture of the author DIABL0
        Originally Posted by Project Sniper View Post

        typical American...uninformed and uneducated...you make $1500 a year
        Yup, what the hell do I know. Just been generating leads for 16+ years.
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    • Profile picture of the author pse
      Yeah, that's what I thought of when I started this website and that's why asked them immigration related question. I know everyone from a third world country wants to migrate to a prosperous one. And many of my members are students or young professionals.

      Originally Posted by misterkailo View Post

      immigration consultation will be big ... so focus on that
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  • Profile picture of the author Steve B
    A simple question: Do you have the permission of your 28,000 members to sell their contact information to third parties outside the niche?

    If not, either get their permission ... or respect their privacy. Isn't that what you would want if someone was going to sell your personal contact info?

    Steve
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    • Profile picture of the author pse
      I have the permission to send them marketing and promotional emails. I can easily get their permission again.

      Originally Posted by Steve B View Post

      A simple question: Do you have the permission of your 28,000 members to sell their contact information to third parties outside the niche?

      If not, either get their permission ... or respect their privacy. Isn't that what you would want if someone was going to sell your personal contact info?

      Steve
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  • PSE,

    There might be relevant CPA offers for Pakistan traffic in certain networks (probably only a few, if any) - Have you tried looking closer at this option?

    You can also try to find local providers in Pakistan for those verticals (stock trading platforms, insurance sellers and immigration agencies / attorneys / consulting businesses) and negotiate mutually beneficial deals with them (advertising, affiliate and content publishing partnerships, etc.) ...
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    • Profile picture of the author pse
      I tried to search such offers in Pakistan but so far no luck. (Perhaps I should start one

      I tried to contact many local providers, in stock trading and insurance, but never heard back from them. I sent emails via websites and also tried to contact relevant guys via LinkedIn. Zero response.

      Originally Posted by Marx Vergel Melencio View Post

      PSE,

      There might be relevant CPA offers for Pakistan traffic in certain networks (probably only a few, if any) - Have you tried looking closer at this option?

      You can also try to find local providers in Pakistan for those verticals (stock trading platforms, insurance sellers and immigration agencies / attorneys / consulting businesses) and negotiate mutually beneficial deals with them (advertising, affiliate and content publishing partnerships, etc.) ...
      {{ DiscussionBoard.errors[10968594].message }}
  • Profile picture of the author DIABL0
    I just don't see it and I have been generating leads for over 16 years.

    Not that I can't be wrong, but it is not something I would of ever done.
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    • Profile picture of the author pse
      You don't see this idea getting any where (ie. making money referring people) ?

      Originally Posted by DIABL0 View Post

      I just don't see it and I have been generating leads for over 16 years.

      Not that I can't be wrong, but it is not something I would of ever done.
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      • Profile picture of the author DIABL0
        Originally Posted by pse View Post

        You don't see this idea getting any where (ie. making money referring people) ?
        I know of no marketplace for the leads.

        The time and effort that you will spend trying to find a way to monetize the data is probably better spent developing new data that you can monetize.

        Also, if you did find away to sell leads, if they don't convert then no one will continue to buy them.
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  • Profile picture of the author yukon
    Banned
    Why don't you monetize with an upgrade on the fantasy trading, a Pro account? Even If it's on'y $5 - $10 a month or whatever.

    That way you skip the middle man (affiliate network or whoever).

    You said they have some money, let them prove it.
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    • Profile picture of the author pse
      Not an option!

      Originally Posted by yukon View Post

      Why don't you monetize with an upgrade on the fantasy trading, a Pro account? Even If it's on'y $5 - $10 a month or whatever.

      That way you skip the middle man (affiliate network or whoever).

      You said they have some money, let them prove it.
      {{ DiscussionBoard.errors[10968605].message }}
      • Profile picture of the author yukon
        Banned
        Originally Posted by pse View Post

        Not an option!
        Silly.

        Either you control the site and have traffic or you don't.
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        • Profile picture of the author pse
          Yeah, perhaps. But this is not an option because of the realities of the target market. Online purchase for premium services is not feasible in Pakistan.

          Originally Posted by yukon View Post

          Silly.

          Either you control the site and have traffic or you don't.
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          • Profile picture of the author yukon
            Banned
            Originally Posted by pse View Post

            Yeah, perhaps. But this is not an option because of the realities of the target market. Online purchase for premium services is not feasible in Pakistan.
            Say what?

            Earlier you were defending your traffic saying they had money.

            Now they're broke? Make up your mind.

            I have no idea WTH is going on in here.
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            • Profile picture of the author pse
              They have money but they cannot spend online. E-commerce is not prevalent in Pakistan.

              Originally Posted by yukon View Post

              Say what?

              Earlier you were defending your traffic saying they had money.

              Now they're broke? Make up your mind.

              I have no idea WTH is going on in here.
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              • Profile picture of the author yukon
                Banned
                Originally Posted by pse View Post

                They have money but they cannot spend online. E-commerce is not prevalent in Pakistan.

                So what are we doing here? What's the point?

                If you can't monetize the traffic what makes you think anyone else can? If they have a dollar in their pocket and can't spend it, that dollar might as well not exist.
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                • Profile picture of the author pse
                  They have money that I'm sure they can spend offline but I'm at a loss of ideas of approaching the local stock brokers and insurance companies. I've tried sending them emails and contacting them on LinkedIn, but nobody responded yet.

                  Originally Posted by yukon View Post

                  So what are we doing here? What's the point?

                  If you can't monetize the traffic what makes you think anyone else can? If they have a dollar in their pocket and can't spend it, that dollar might as well not exist.
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  • Profile picture of the author FoxMetricsATL
    FinTech is a huge and growing industry right now. Apps like Acorns and Qoins are have gained major popularity. I know you are looking at immigration and insurance but your biggest interest it looks like is still in stocks. You could very well sell the site itself to up and coming apps or even better with that user base you have a lot of data on a country and population where there is not as much. That data is valuable . I know it started as a hobby but think big on this one before making any moves. Your site is probably a lot more valuable than you think
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